MBX Biosciences (NASDAQ:MBX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of MBX Biosciences (NASDAQ:MBX) from a hold rating to a sell rating in a research note issued to investors on Sunday.

MBX has been the subject of several other research reports. Barclays increased their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Citizens Jmp increased their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, Truist Financial increased their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Stock Performance

NASDAQ:MBX opened at $32.45 on Friday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -14.68 and a beta of 0.78. MBX Biosciences has a 52 week low of $9.43 and a 52 week high of $45.85. The firm has a 50-day moving average price of $31.48 and a two-hundred day moving average price of $31.94.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.15. As a group, sell-side analysts forecast that MBX Biosciences will post -2.84 earnings per share for the current year.

Insider Buying and Selling at MBX Biosciences

In related news, CEO P. Kent Hawryluk bought 18,500 shares of MBX Biosciences stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $28.41 per share, with a total value of $525,585.00. Following the transaction, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in MBX Biosciences in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the period. Royal Bank of Canada boosted its holdings in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the period. FNY Investment Advisers LLC bought a new position in MBX Biosciences in the 3rd quarter worth approximately $27,000. Finally, Strs Ohio boosted its holdings in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after buying an additional 900 shares during the period.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.